Inflation Misinformation and Late Fee Cap

President Biden made false claims on CNN regarding inflation rates, stating it was 9% when he took office, while official records showed it was 1.4%. Additionally, a new eight dollar cap on credit card late fees is set to go into effect, although financial institutions are challenging the rule change in federal court. The reduced late fee could benefit financially strained users, but experts like Ted Rossman note that credit card companies may find ways to navigate around the cap.